Light Science Technologies Holdings PLC (AIM:LST, FRA:9FD) expects a substantially stronger second half after generating £2.15 million of revenue in the two months to 31 July, well over half the total booked across its entire first half.
The technology and manufacturing group, which supplies fire safety materials, contract electronics and agricultural growing systems, held a committed forward order book of £3.09 million at the end of July.
Most of that is expected to be recognised as revenue before the year end.
The acquisition of RLUK Injection has made the group the exclusive supplier of Injectaclad, a fire-stopping material injected into cavity barriers, to its network of installers.
More than ten installations are currently in progress, with material orders still to be placed on the majority, pointing to further revenue not yet captured in the order book.
Management expects the passive fire protection division to scale through the remainder of the financial year, lifting margins and cash generation into 2027.
Interim results for the six months to 31 May showed revenue of £3.73 million, down from £5.06 million a year earlier. Gross margin narrowed to 30.5% from 36.3%.
The group swung to an adjusted operating loss of £0.69 million against a modest profit last time. The adjusted pre-tax loss was £0.80 million.
Trading was held back by delays in the fire safety business, where applications had been slowed by a bottleneck at the Building Safety Regulator, the body that signs off work on higher-risk buildings.
Light Science raised £6.6 million gross during the period, £6.1 million net, funding three acquisitions completed in April.
Its contract electronics arm has added four clients expected to generate up to £1 million a year, while the agritech division has won a £0.30 million university contract in Wales.
Cash and undrawn facilities stood at £2.93 million at the end of July.
Chief executive Simon Deacon described the half as transformational.
